Shares of Prothena Corp PLC (PRTA) are surging 5.01% in Friday's pre-market trading session, following a significant price target upgrade from H.C. Wainwright. The biotechnology company's stock is attracting investor attention amid positive analyst sentiment.

H.C. Wainwright has raised its price target for Prothena from $20 to $30, representing a substantial 50% increase. This bullish outlook from the research firm suggests growing confidence in Prothena's potential and future prospects. The upgraded price target implies considerable upside potential from the stock's current trading levels, likely fueling the pre-market rally.

While H.C. Wainwright's optimistic view is driving the stock higher, it's worth noting that not all analysts share the same enthusiasm. In a report released on Thursday, RBC Capital maintained a Hold rating on Prothena, with a more conservative price target of $11.00. The contrasting views from different analysts highlight the complex landscape of the biotechnology sector and the varying assessments of Prothena's future performance. Investors are advised to consider multiple perspectives and conduct thorough research when making investment decisions in this volatile sector.